Ellison firm buys properties
Annapurna Pictures purchases five contiguous buildings in West Hollywood for $40 million.
Annapurna Pictures acquires five buildings in West Hollywood.
Hollywood producer Megan Ellison is planting roots for her production company, Annapurna Pictures.
The producer of critically acclaimed films such as “Zero Dark Thirty” and “American Hustle” recently paid $40 million to purchase five contiguous buildings in West Hollywood, one of which is listed as the company’s current address.
Combined, the buildings amount to 28,000 square feet on a lot measuring 35,000 square feet on the corner of Robertson Boulevard and Keith Avenue. Sale of the properties closed May 20.
The commercially-zoned site used to be a movie studio for silent film actress and producer Norma Talmadge. The property was sold to stage and film artist Tony Duquette in the 1950s. In 1970, it was bought by art dealer Margo Leavin, who sold it to Ellison.
It’s unclear whether the site will be used for filming or strictly offices. A representative for Annapurna did not respond to a request for comment.
The sale comes as demand for studio space in Los Angeles County remains strong, buoyed in part by state tax credits to promote TV production and the surge in online video production.
Some of Hollywood’s most historic film lots, such as the Sunset Bronson Studios, have seen a boost with new tenants such as Netflix.
Ellison, the daughter of Oracle Corp. founder Larry Ellison, who was named the world’s seventh-richest person by Forbes this year, launched Annapurna in 2011. It was named after a section of the Himalayas in Nepal.
Megan Ellison has earned three best picture Oscar nominations — one in 2013 for “Zero Dark Thirty,” and two in 2014 for “American Hustle” and “Her.”
The 30-year old Hollywood upstart recently backed “Everybody Wants Some,” Richard Linklater’s “spiritual sequel” to “Dazed and Confused.” Annapurna partnered with Sony Pictures to produce the upcoming “Sausage Party,” an animated comedy starring Seth Rogen and Kristen Wiig.
The property was listed by Teles Properties’ commercial division through Teles agent Jason Froehlich.